Observations after many Years… I have been a shareholder for many many years buying in the high $2’s and on & on down thereafter with a fortuitous large chunk going in a Registered account at 8c. I also added extra in the Rights Issue. Fast fwd, I’m growing increasing concerned that as the SP continues to deteriorate, more and more Retail Shareholders will be turned off and/or sell for a loss and never look here again. Why is that an issue? Well for those that weren’t aware, the previous incarnation just when Don G.announced his initial interests ( = my 1st point of entry too), old PRQ had a balanced Share Register. The same cannot be said now. Yes the 4 x Grays undoubtedly saved Old PRQ from bankruptcy, but in doing so the mere presence of one and only one insider group controlling >85% of all available shares now means the Trading fate (note the distinction from Operational fate)(which I don’t question) rests ONLY IN THE HANDS OF RETAIL INVESTORS. That’s a huge problem. Whether we like it or not, no Fund Manager anywhere will invest in PRQ. The liquidity is not there. The Float is not there. And one combined family block poses all sorts of barriers forbidding Institutional money coming our way. These are facts. It won’t change. And a stock with a minuscule float and that
float ONLY being supported by Retail Investors is NOT GOING TO BE ENOUGH. They are leaving/have left. Corporate activity will be the only way up for us, ultimately. We should (all) be questioning the Grays at every juncture as to their ultimate strategy. They may choose to share or not choose to do so. Should they choose to remain schstum, the problem will enlarge. Management (imo) already dropped the ball in respect of a failure to Manage Expectation finally racing to announce the inaugural Divvy (doing what they should have done in the first place) and giving us all what we had been expecting. In a financial era where you might get +6% off a money market fund or a Mutual, getting +10% off a very risky, cyclical junior hosting little prospects for share growth measured in strides - because of the problems mentioned above - all equals over extended risk. And that is why it is deflating weekly. The Grays need to take this Private or look for corporate opportunity. Of course they are such a massive controlling interest, they may likely not care less what we (retailers) think and be happy to clip a +10% coupon on the ~$100MM they have put in. Scaring off timid Retailers; preventing Institutional interest; what exactly do they think will get us to $10/share and beyond in a reasonable timeframe?